Pilgrim’s Europe grew its revenues and profits in the 2025 financial year, its second full year as an integrated business since bringing together Moy Park, Pilgrim’s UK and Pilgrim’s Food Masters.
However, the company acknowledges that, moving into 2026, the external environment is ‘challenging’, with low EU prices putting pressure on the pork trade.
Revenue increased to £4.12 billion in 2025 from £4.07bn in 2024, while operating profit increased to £267.7 million from £242.4m in 2024. Operating profit margin, before the impact of restructuring costs, remained ‘resilient’ at 6.5%, up from 6% in 2024, reflecting ongoing investment across the business and changes in portfolio mix.
The company said the performance was supported by growth in poultry, ‘disciplined operational execution’, and continued investment, £108.6 over the period, in the group’s manufacturing, farming and supply chain capabilities.
The Pork business ‘continued to make strategic progress despite softer market conditions during the second half of the year’. Pilgrim’s highlighted its ‘landmark’ 10-year partnership with Waitrose agreed to support its transition to 100% British free-range pork by 2027.
The Value Added and Brands business launched more than 800 new products across retail, foodservice and branded categories during 2025. Fridge Raiders and Rollover outperformed their respective categories, demonstrating the strength of the company’s brand portfolio and innovation capability.
Poultry growth was driven by ‘operational improvements, customer contract wins, disciplined cost management and strong commercial execution’. The business continued to strengthen relationships with key retail and foodservice customers while securing new commercial opportunities.
During the year, Pilgrim’s became the exclusive supplier of all Waitrose Better Chicken Commitment own-brand chicken.
Outlook
The company said it has delivered a ‘resilient performance’ in the first half of the 2026, with sales and volume growth across poultry and meals supported by customer demand, successful product launches and continued growth in premium own-label categories.
“The external environment remains challenging, however, with ongoing pressure on consumer spending and continued volatility in agricultural commodity markets. Within pork, the EU-UK pig price differential continues to influence competitiveness, pricing and raw material availability,” the company said.
During the first half of the current financial year, the company strengthened its integrated agricultural platform through the acquisition of Hermitage Genetics, enhancing its breeding and genetics capabilities and ‘supporting the long-term sustainability of its pork supply chain’.
Looking ahead, Pilgrim’s Europe said it remains focused on executing its strategic priorities, including increasing British pork export value and what it described as ‘optimising pig procurement’. Like the other big pork processors, Pilgrim’s has served notice on a number of its pig suppliers this year.
The company also intends to expand its poultry farming capacity, and progressing the proposed acquisition of Walker’s Deli & Sausage Company, subject to Competitions and Markets Authority (CMA) approval.
Strong progress
Ivan Siqueira, president Pilgrim’s Europe, said 2025 marked ‘another year of strong progress’ for the company as it continued to realise the benefits of operating as one integrated business.
“We delivered growth across our poultry operations, improved profitability in our value-added portfolio and continued investing in our agricultural, manufacturing and innovation capabilities to support long-term growth,” he said.
“During the year, we strengthened our position as the UK’s leading own-label food supplier, deepened strategic customer partnerships and continued helping customers meet changing consumer expectations through innovation, welfare leadership and supply chain resilience.
“Whilst trading conditions remain mixed across parts of the sector, particularly within pork, our integrated business model, talented people and strong customer relationships leave us well positioned for the future. I would like to thank our 17,000 colleagues, farmers, suppliers and customers for their continued commitment and support.”